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Oriole Company closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year-end. On
Oriole Company closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year-end. On June 30 , the Notes Receivable account balance is $26,600. Notes Receivable include the following. During July, the following transactions were completed. July 5 Made sales of $4,850 on Oriole credit cards. 14 Made sales of $800 on Visa credit cards. The credit card service charge is 3%. 20 Received payment in full from Coote Inc. on the amount due. 24 Received payment in full from Brady Co. on the amount due. Your answer is correct. Journalise the July transactions and the Jaly 31 adjusting entry for accrued interest recchable. (interest is. computed using 360 days) (Omit cost of goods sold entries) (t ist all debit entries before credit entries. Credit account titles are autemetically indented when amount is entered. Do not indent mentally. Record journal entries in the order presented in the problem. If no entry is fequired. select "No Entry" for the account titles and enter 0 for the amounts.) Enter the balances at Juy 1 in the receivable accounts and post the entries to all of the receivable accounts. (Pest entries in the order of journal entries presented in the previeus part.) Show the balance sheet presentation of the receivable accounts at July 31
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